HomeMy WebLinkAboutSEOPW CRA 2024-09-07 Agenda PacketCity of Miami
819 NW 2nd Ave
3rd Floor
Miami, FL 33136
http://miamicra.com
Meeting Agenda
Saturday, September 07, 2024
10:15 AM
City Hall
3500 Pan American Drive
Miami, FL 33133
SEOPW Community Redevelopment Agency
Christine King, Chair, District Five
Miguel Angel Gabela, Board Member, District One
Damian Pardo, Board Member, District Two
Joe Carollo, Board Member, District Three
Manolo Reyes, Board Member, District Four
SEOPW CRA OFFICE ADDRESS:
819 NW 2ND AVENUE, 3RD FLOOR
MIAMI, FL 33136
Phone: (305) 679-6800 I Fax (305) 679-6835
www.miamicra.com
Southeast Overtown/Park West CRA Meeting Agenda
September 7, 2024
CALL TO ORDER
CRA PUBLIC COMMENTS
MINUTES APPROVAL
1. Thursday, June 27, 2024
2. Thursday, July 25, 2024
CRA RESOLUTION
1. CRA RESOLUTION
16572 A RESOLUTION OF THE BOARD OF COMMISSIONERS ("BOARD") OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
AGENCY ("SEOPW CRA"), WITH ATTACHMENTS, APPROVING AND
ADOPTING THE PROPOSED GENERAL OPERATING AND TAX
INCREMENT FUND BUDGET ("BUDGET") OF THE SEOPW CRA,
ATTACHED AND INCORPORATED HEREIN AS EXHIBIT "A," IN THE
AMOUNT OF ONE HUNDRED MILLION FOUR HUNDRED SIXTY-SIX
THOUSAND TWO HUNDRED SEVENTY-EIGHT DOLLARS AND ZERO
CENTS ($100,466,278.00) ("FUNDS"), FOR THE FISCAL YEAR
COMMENCING OCTOBER 1, 2024 AND ENDING SEPTEMBER 30, 2025
("FY 2024 - 2025"); FURTHER AUTHORIZING THE DE -ALLOCATION OF
FUNDS IN THE AMOUNT OF ONE MILLION ONE HUNDRED ONE
THOUSAND THREE HUNDRED FIVE DOLLARS AND ZERO CENTS
($1,101,305.00), ATTACHED AND INCORPORATED HEREIN AS EXHIBIT
"B"; FURTHER AUTHORIZING THE COMPENSATION OF THE EXECUTIVE
DIRECTOR FOR FY 2024 - 2025 AND DIRECTING THE EXECUTIVE
DIRECTOR TO TRANSMIT A COPY OF SAID BUDGET TO THE CITY OF
MIAMI AND MIAMI-DADE COUNTY; PROVIDING FOR INCORPORATION OF
RECITALS AND PROVIDING FOR AN EFFECTIVE DATE.
File # 16572 - Exhibit A
File # 16572 - Exhibit B
ADJOURNMENT
City of -Miami Page 2 Printed on 8/27/2024
4.1
SEOPW Board of Commissioners Meeting
September 7, 2024
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Christine King Date: August 27, 2024
and Members of the CRA
Board File: 16572
From: James McQueen
Executive Director
Subject: SEOPW CRA General Operating
and Tax Increment Fund Budget.
Enclosures: File # 16572 - Exhibit A
File # 16572 - Exhibit B
BACKGROUND:
A Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("SEOPW CRA"), with attachment(s), approving and adopting the proposed
general operating and tax increment fund ("TIF") budget of the SEOPW CRA ("Budget"), attached and
incorporated as Exhibit "A", in the amount of One Hundred Million Four Hundred Sixty -Six Thousand
Two Hundred Seventy -Eight Dollars and Zero Cents ($100,466,278.00) ("Funds"), for the fiscal year
commencing October 1, 2024, and ending September 30, 2025, and directing the Executive Director to
transmit copies of the Budget to the City of Miami ("City) and Miami -Dade County ("County"). The
Board of Commissioners of the SEOPW CRA hereby approves the de -allocation of funds in the amount
of One Million One Hundred One Thousand Three Hundred Five Dollars and Zero Cents
($1,101,305.00), attached and incorporated as Exhibit "B."
JUSTIFICATION:
Pursuant to Section 163.387, Florida Statutes, the SEOPW CRA is bound to annually prepare and
transmit a proposed budget to the City and County, attached and incorporated herein as Exhibit "A." The
Board of Commissioners of the SEOPW CRA finds that the attached Resolution would fulfill that
requirement and approves the Budget, and hereby authorizes the de -allocation of funds in the amount of
$1,101,305.00, attached and incorporated as Exhibit "B."
BUDGET SUMMARY
The 2025 Budget amounted to $100,466,278.00. The Budget included the following revenue sources:
$19,709,668.00 — Miami Dade County TIF
$30,694,090.00 — City of Miami TIF
$4,833,515.00 — Non-TIF Revenue fund
$2,017,387.00 — Children's Trust Contribution
$43,211,618.00 — 2024's carryover fund balance
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4.1
Administrative expenses total $5,216,607.00, include employee salaries and fringes, and which represents
ten percent (10%) of total budgeted expenditures, satisfying the twenty percent (20%) cap for
administrative costs allowed by the Interlocal Agreement, and Section 163.387, Florida Statutes. This
allocation of funds contemplates a six percent (6%) salary increase in the Executive Director's
compensation, effective October 1, 2024.
Operating expenses total $95,249,671.00 and include:
$63,943,605.00 for Grants and Aid, including:
• Affordable/Workforce housing projects ($19,017,660.00)
• MWC and Avanti economic incentive payments ($6,351,320.00)
• A reserve for Eligible Activities under Chapter 163 ($17,969,075.00)
• Other grants and projects such as arts, culture, infrastructure, job creation and quality of life
($20,605,550.00)
$15,967,569.00 for Interfund Transfer, including:
• Refund to the County for the Global Agreement ($4,500,000.00)
• Grant to City for Construction of Gibson Park debt service ($850,182.00)
• Disbursement to the Children's Trust ($2,017,387.00)
• Enhanced Policing Services ($600,000.00)
• Contribution to the Tri-Rail project ($8,000,000.00)
$4,502,500.00 for Debt Service payment/reserves
$2,000,000.00 for Purchase of Land
$2,513,709.00 for Professional and Contractual Services
$1,641,657.00 for Construction in Progress
$4,680,631.00 for Revenue Shortfall Reserve for future years.
The Budget was prepared by taking into consideration the following eligible activities below, as specified
under Section 163.387(6(c)) and (7), Florida Statutes, respectively.
s. 163.387, Florida Statutes:
6(c) The annual budget of a community redevelopment agency may provide for payment of the following
expenses:
1. Administrative and overhead expenses directly or indirectly necessary to implement a
community redevelopment plan adopted by the agency.
2. Expenses of redevelopment planning, surveys, and financial analysis, including the
reimbursement of the governing body or the community redevelopment agency for such expenses
incurred before the redevelopment plan was approved and adopted.
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4.1
3. The acquisition of real property in the redevelopment area.
4. The clearance and preparation of any redevelopment area for redevelopment and relocation
of site occupants within or outside the community redevelopment area as provided in s.163.370.
5. The repayment of principal and interest or any redemption premium for loans, advances,
bonds, bond anticipation notes, and any other form of indebtedness.
6. All expenses incidental to or connected with the issuance, sale, redemption, retirement, or
purchase of bonds, bond anticipation notes, or other form of indebtedness, including funding of
any reserve, redemption, or other fund or account provided for in the ordinance or resolution
authorizing such bonds, notes, or other form of indebtedness.
7. The development of affordable housing within the community redevelopment area.
8. The development of community policing innovations.
9. Expenses that are necessary to exercise the powers granted under s. 163.370, as delegated
under s. 163.358.
(7) On the last day of the fiscal year of the community redevelopment agency, any money which
remains in the trust fund after the payment of expenses pursuant to subsection (6) for such year shall be:
(a) Returned to each taxing authority which paid the increment in the proportion that the
amount of the payment of such taxing authority bears to the total amount paid into the trust fund
by all taxing authorities for that year;
(b) Used to reduce the amount of any indebtedness to which increment revenues are pledged;
(c) Deposited into an escrow account for the purpose of later reducing any indebtedness to
which increment revenues are pledged; or
(d) Appropriated to a specific redevelopment project pursuant to an approved community
redevelopment plan. The funds appropriated for such project may not be changed unless the
project is amended, redesigned, or delayed, in which case the funds must be reappropriated
pursuant to the next annual budget adopted by the board of commissioners of the community
redevelopment agency.
Any redevelopment project apart from the activities mentioned above will be funded from non -tax
increment funding (Non-TIF) sources.
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4.1
AGENDA ITEM
FINANCIAL INFORMATION FORM
SEOPW CRA
CRA Board Meeting Date: September 7, 2024
CRA Section:
Approved by:
Executive Director 8/27/2024
Approval:
Miguel A Valentin,, Firiarice Officer '1774. 8/27/2024
Page 4 of 6
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4.1
Southeast Overtown/Park West
Community Redevelopment Agency
File Type: CRA Resolution
Enactment Number:
File Number: 16572 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS ("BOARD") OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
("SEOPW CRA"), WITH ATTACHMENTS, APPROVING AND ADOPTING THE
PROPOSED GENERAL OPERATING AND TAX INCREMENT FUND BUDGET
("BUDGET") OF THE SEOPW CRA, ATTACHED AND INCORPORATED HEREIN AS
EXHIBIT "A," IN THE AMOUNT OF ONE HUNDRED MILLION FOUR HUNDRED
SIXTY-SIX THOUSAND TWO HUNDRED SEVENTY-EIGHT DOLLARS AND ZERO
CENTS ($100,466,278.00) ("FUNDS"), FOR THE FISCAL YEAR COMMENCING
OCTOBER 1, 2024 AND ENDING SEPTEMBER 30, 2025 ("FY 2024 - 2025");
FURTHER AUTHORIZING THE DE -ALLOCATION OF FUNDS IN THE AMOUNT OF
ONE MILLION ONE HUNDRED ONE THOUSAND THREE HUNDRED FIVE DOLLARS
AND ZERO CENTS ($1,101,305.00), ATTACHED AND INCORPORATED HEREIN AS
EXHIBIT "B"; FURTHER AUTHORIZING THE COMPENSATION OF THE EXECUTIVE
DIRECTOR FOR FY 2024 - 2025 AND DIRECTING THE EXECUTIVE DIRECTOR TO
TRANSMIT A COPY OF SAID BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE
COUNTY; PROVIDING FOR INCORPORATION OF RECITALS AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW
CRA") is responsible for carrying out community redevelopment activities and projects within its
Redevelopment Area in accordance with the 2018 Southeast Overtown/Park West Redevelopment Plan
Update (the "Plan"); and
WHEREAS, as a prerequisite to carrying out redevelopment activities for the fiscal year
commencing October 1, 2024 and ending September 30, 2025 ("FY 2024 - 2025"), it is required that the
SEOPW CRA's Board of Commissioners ("Board") approve and adopt the annual General Operating and
Tax Increment Fund Budget ("Budget"), attached and incorporated herein as Exhibit "A"; and
WHEREAS, pursuant to Interlocal Agreements, a copy of the SEOPW CRA's Budget is required
to be transmitted to the City of Miami and Miami -Dade County; and
WHEREAS, all the expenses included in the Budget are in accordance with local and state law,
Interlocal Agreements, and the Plan; and
WHEREAS, the Board finds that authorizing this Resolution would further the SEOPW CRA's
redevelopment goals and objectives; and
WHEREAS, the Board wishes to approve and adopt the SEOPW CRA's Budget for FY 2024 -
2025, as set forth in Exhibit "A," in the amount of One Hundred Million Four Hundred Sixty -Six
Thousand Two Hundred Seventy -Eight Dollars and Zero Cents ($100,466,278.00) ("Funds");
Page 5 of 6
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4.1
WHEREAS, the Board wishes to de -allocate funds in the amount of One Million One Hundred
One Thousand Three Hundred Five Dollars and Zero Cents ($1,101,305.00), as set forth in Exhibit "B";
WHEREAS, the Board wishes to approve the Executive Director's compensation, effective in FY
2024 - 2025.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated herein as if fully set forth in this Section.
Section 2. The SEOPW CRA's Budget, in the amount of One Hundred Million Four
Hundred Sixty -Six Thousand Two Hundred Seventy -Eight Dollars and Zero Cents ($100,466,278.00), for
FY 2024 - 2025, as set forth in Exhibit "A", is hereby approved and adopted.
Section 3. The Board hereby approves the de -allocation of funds in the amount of One
Million One Hundred One Thousand Three Hundred Five Dollars and Zero Cents ($1,101,305.00), as set
forth in Exhibit "B."
Section 4. The Board further approves the compensation of the Executive Director,
effective in FY 2024 - 2025.
Section 5. Sections of this Resolution may be re -numbered or re -lettered, and corrections of
typographical errors which do not affect the intent may be authorized by the Executive Director, or the
Executive Director's designee, without need of public hearing, by filing a corrected copy of same with the
City of Miami City Clerk.
Section 6. The Executive Director is directed to transmit a copy of said Budget to the City
of Miami and Miami -Dade County, including any and all necessary documents, and all -in forms
acceptable to the Counsel.
Section 7. This Resolution shall become effective immediately upon its adoption and
signature by the City Mayor.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
ounsel 8/27/2024
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Exhibit "A"
4.1.a
SEOPW GENERAL OPERATING TAX INCREMENT FUND BUDGET
FY 2025
PROPOSED
BUDGET
FY 2024
PROPOSED
BUDGET
BUDGET
VARIANCE
REVENUES
CITY OF MIAMI - TAX INCREMENT (ORIGINAL BOUNDARIES)
$26,900,684
$25,078,551
$1,822,133
MIAMI DADE COUNTY - TAX INCREMENT (ORIGINAL BOUNDARIES)
$17,261,802
$15,183,020
$2,078,782
CITY OF MIAMI - TAX INCREMENT (EXPANDED BOUNDARIES)
$1,720,577
$1,796,294
($75,717)
MIAMI DADE COUNTY - TAX INCREMENT (EXPANDED BOUNDARIES)
$1,108,226
$1,087,565
$20,661
CITY OF MIAMI - TAX INCREMENT (PARK WEST ADDITION)
$2,072,829
$2,860,199
($787,370)
MIAMI DADE COUNTY - TAX INCREMENT (PARK WEST ADDITION)
$1,339,640
$1,731,732
($392,092)
Total 2025 TIF Rov°noo $50,403,758
2024 ESTIMATED CONTRIBUTION FROM THE CHILDREN TRUST FUND
$2,017,387
$1,824,080
$193,307
2024 ESTIMATED NON TIF FUND BALANCE
$4,833,515
$0
$4,833,515
2024 ESTIMATED FUND BALANCE
$43,211,618
$57,127,599
($13,915,981)
TOTAL REVENUE
$100,466,278
$106,689,040
:($6,222,762)1
REDEVELOPMENT EXPENDITURES
PROFESSIONAL SERVICES - LEGAL
$200,000
$217,725
($17,725)
ACCOUNTING AND AUDIT
$45,000
$35,000
$10,000
PROFESSIONAL SERVICES - OTHER
$768,709
$645,263
$123,446
OTHER CONTRACTUAL SERVICES
$1,500,000
$1,021,242
$478,758
DEBT SERVICE PAYMENT
$4,502,500
$4,508,000
($5,500)
INTERFUND TRANSFER
$15,967,569
$21,978,434
($6,010,865)
LAND
$2,000,000
$16,435,000
($14,435,000)
CONSTRUCTION IN PROGRESS
$1,641,657
$1,019,181
$622,476
OTHER GRANTS AND AIDS
$63,943,606
$54,683,645
$9,259,961
TOTAL REDEVELOPMENT EXPENDITURES
$90,569,041
$100,543,491 '
($9,974,450)
REGULAR SALARIES (19 staff members)
$2,333,188
$1,902,158
$431,030
FICA TAXES
$178,489
$145,515
$32,974
LIFE AND HEALTH INSURANCE
$270,921
$245,921
$25,000
RETIREMENT CONTRIBUTION
$428,684
$387,177
$41,507
FRINGE BENEFITS
$55,700
$50,800
$4,900
OTHER CONTRACTUAL SERVICE
$500,000
$120,230
$379,770
TRAVEL AND PER DIEM
$65,000
$45,000
$20,000
UTILITY SERVICE
$70,000
$69,000
$1,000
INSURANCE
$310,625
$170,538
$140,087
OTHER CURRENT CHARGE
$180,000
$87,579
$92,421
SUPPLIES
$20,000
$20,000
$0
OPERATING SUPPLIES
$10,000
$10,000
$0
SUBSCRIPTION M EMBERSHIP/TRAINING
$15,000
$15,000
$0
MACHINERY AND EQUIPMENT
$3,000
$3,000
$0
ADVERTISING
$60,000
$45,000
$15,000
RENTAL AND LEASES
$647,000
$79,000
$568,000
POSTAGE
$2,000
$2,000
$0
REPAIR/MAINTENANCE - OUTSIDE
$2,000
$2,000
$0
INTERFUND TRANSFER
$65,000
$65,000
$0
TOTAL ADMINISTRATIVE EXPENDITURES
$5,216,607
$3,464,918
$1,751,6891
Revenue Shortfall Reserve
FY 2016 Carryover Fund Balance (Surplus)
$240,000
$240,000
$0
FY 2017 Carryover Fund Balance (Surplus)
$272,270
$272,270
$0
FY 2018 Carryover Fund Balance (Surplus)
$321,755
$321,755
$0
FY 2019 Carryover Fund Balance (Surplus)
$309,727
$309,727
$0
FY 2023 Carryover Fund Balance (Surplus)
$748,087
$748,087
$0
FY 2024 Carryover Fund Balance (Surplus)
$788,792
$788,792
$0
FY 2025 BUDGET RESERVE
$2,000,000
$0
$2,000,000
TOTAL REVENUE SHORTFALL RESERVE
$4,680,631
$2,680,631
$2,000,000
TOTAL FUND BALANCE
$100,466,278
$106,689,040
($6,222,762)
$0
2025 TIF Revenue $50,403,758
2025 Administrative Expenditures $5,216,607
Administrative Exp / 2025 TIF Revenue 10.35%
2025 Budget Reserve $4,680,631
Total 2025 Budget $100,466,278
2025 Budget Reserve / Total 2025 Budget 5%
$0
$0
Attachment: File # 16572 - Exhibit A (16572 : SEOPW CRA General Operating and Tax Increment Fund Budget.)
1
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4.1.b
Exhibit "B"
De -allocation of funds
i►
Description
Category
Resolution No
Award
Amount
Actual
Remaining
Balance
_
1
Dreamers Breaking Barriers, LLC
To underwrite costs associated
with the operation of the All
Star Detailing Services training
and second -chance pilot
program located at 1490 NW
3rd Avenue, Miami, FL
22-0013
$75,000
$74,9721
$28
2
Girl Power Rocks, Inc
To assist with providing a safe
space for 30 at -promise
females.
23-0020
$74,202
$73,810
$392
3
Grant to Florida Film House
International, Inc
To underwrite costs associated
with the operation of theist
Take Youth Program
22-0029
$100,000
$99,153
$847
_
4
Grant to Florida Film House
International, LLC
To underwrite costs associated
with the production of the 2022
Urban Film Festival
22-0030
$25,000
$23,295
$1,705
5
Dreamers Breaking Barriers, LLC /
Funding in the amount of
$100,000.00 derives from the City
of Miami - Grants Department
To underwrite costs associated
with the operation of the All
Star Detailing Services training
and second -chance pilot
program located at 1490 NW
3rd Avenue, Miami, FL
20-0030
$150,000
$148,243
$1,757
6
EyeurbanTV.com
To underwrite costs associated
with the production of a media
community Internet
broadcasting station.
22-0023
$63,000
$60,670
$2,330
7
Grant to Florida Film House, LLC
To underwrite costs associated
with the operation of the 1st
Take Youth Program
20-0025
$158,200
$154,787
$3,413
8
Mt. Zion Developments - Church
located at 301 NW 9th St.
40 years certification and roof
replacement.
22-0002
$350,000
$345,146
$4,854
9
Grant to Peoples Drug Store Inc.
For the rehabilitation of
"People's Bar-B-Que" a full
service bar-b-que restaurant
located at 360 NW 8th Street,
Miami, FL 33136.
22-0014
$40,000
$30,744
$9,256
10
Grant to Black Archives History and
Research Foundation of South
Florida, Inc.
To underwrite costs associated
with the continued operation
and programming of the Lyric
Theater. On 4/28/2022, a
renewal In the amount of
$2.8M was approved ($700K
per year).
18-0043
22-0012
$3,800,000
$3,790,284
$9,716
11
Norwood Consulting Inc.
To underwrite costs associated
with producing cultural
programming and art
exhibitions at the Historic Ward
Rooming House
20-0023
$125,000
$113,314
$11,686
12
Grant to Black Archives History and
Research Foundation of South
Florida, Inc.
Security Upgrades
22-0038
$21,047
$0
$21,047
13
Twin Homes Affordable Housing
Project
Affordable housing project
located at 1900 NW 2nd Ct,
Miami FL
19-0009
$750,000
$721,534
$28,466
1
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4.1.b
14
Grant to Transition, Inc.
To underwrite costs associated
with providing workforce
readiness training and job
placement services,
22-0017
$200,000
$164,110
$35,890
15
Urgent Inc
To support a one-year period
for the January 2023-
December 2023 Summer
22-0053
$100,000
$50,171
$49,829
16
Suited for Success, Inc / Funding is
for two (2) years.
Training and other employment
support services for job
seekers from the
21-0020
$380,000
$326,830
$53,170
17
New Washington Heights
Community Development
Conference, Inc.
To underwrite costs associated
with the production and
operation of "Folk. Life Fridays"
in the redevelopment area.
20-0028
$150,000
$94,341
$55,659
18
Norwood Consulting Inc. / Funding
covers for two (2) years.
To underwrite costs associated
with producing cultural
programming and art
exhibitions at the Historic Ward
Rooming House
21-0023
22-0045
$300,000
$241,822
$58,178
__
19
Liberty City Community
Revitalization Trust
To underwrite costs associated
with the Youth Employment
23-0038
$60,000
$p
$60,000
20
Grant to Miami Dade College for
Hospitality Institute
For the operation of the
hospitality institute in FY 2022-
2023. This commitment is for
four (4) years,
22-0025
$225,000
$138,047
$86,953
21
Hospitality Employees
Advancement & Training, Inc.
CHEAT")
Hospitality and Culinary Arts
training program $150K-
2022/$200K-2023
22-0011
$350,000
$257,356
$92,644
22
Grant to Transition, Inc.
To underwrite costs associated
with providing workforce
readiness training and job
placement services,
23-0008
$292,060
$194,745
$97,315
23
New Washington Heights
Community Development
Conference, Inc.
in
To underwrite costs associated
with the production and
operation of "Folk Life Fridays"
the redevelopment area.
23-0007
$287,000
$106,364
$180,636
24
Parking lot improvements
10th
Parking lots owned by the CRA
at 262 NW 10th St, 250 NW
St and 345 NW 10th St,
16-0033
$260,000
$24,465
$235,535
$ ,, 7.23 ,2Q $1.101
,10.11
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